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Hong Kong Securities and Futures Commission: The development of tokenization in Hong Kong is moving from the experimental stage to commercial application

According to the Hong Kong Securities and Futures Commission, it co-hosted a seminar with the Hong Kong Monetary Authority on November 11, attended by over 200 industry professionals. The seminar topics included the opportunities brought by tokenization for secondary market trading and corporate treasury management, financial infrastructure optimization measures supporting payment and liquidity management, the role of virtual asset trading platforms in facilitating tokenized fund trading and providing liquidity, as well as cases promoting the broader application of tokenized currencies and tokenized investment products.The Executive Director of the Investment Products Division of the Hong Kong Securities and Futures Commission, Wu Jiali, stated that the development of tokenization in Hong Kong is moving from the experimental stage to commercial application, with the next phase focusing on integrating tokenized investment products, digital currencies, and financial infrastructure to drive practical applications. The Assistant Chief Executive (Financial Infrastructure) of the Hong Kong Monetary Authority, Zhou Wenzheng, stated that the Monetary Authority will continue to work closely with the Securities and Futures Commission to promote responsible innovation in the field of tokenization.

first_img The Kobeissi Letter: Do not fire Jensen Huang, NVIDIA fell 35% on the 26th

The capital market commentary agency The Kobeissi Letter has voiced its opinion to the board of directors of Nvidia, urging them not to fire founder and CEO Jensen Huang. The agency stated that there is currently no clear candidate to replace Jensen Huang, and his departure would ultimately have a net negative impact on Nvidia, its shareholders, and the artificial intelligence industry. The agency cited a study on 187 cases of forced CEO departures among S&P 1500 index component companies, which indicated that replacing a high-performing CEO leads to negative long-term stock returns, and believes this case will be no different. The agency stated that Jensen Huang is a high-performing CEO, and the board should not make decisions in an emotionally charged environment.The Kobeissi Letter suggested that the board take time to conduct a comprehensive investigation and consult with shareholders, focusing on listening to shareholder opinions, holding a special shareholder meeting, and conducting advisory votes on related decisions, stating that shareholders should have a voice. The agency noted that Nvidia's stock price has dropped 35% over 26 trading days, with nearly half of the decline related to recent scandals, and believes that the possibility of Jensen Huang being removed from the CEO position has already been factored into the price by about 80%. The agency also mentioned that Amazon retained Jeff Bezos as CEO after his extramarital affair became public in 2019, and the company's stock price rose 108% by 2021. The agency stated that personal misconduct should not be overlooked, but should be distinguished from corporate misconduct, and the consequences of replacing executives who are crucial to the company's success should be weighed.
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